For 10 days only from today, Santander is to cut 0.80% off its APR for personal loans between £15,001 and £20,000 to offer a market-leading 6.8% APR for new and existing customers.
The new lower rate, down from 7.6% APR, will be available online or via the phone until midnight on Wednesday 28 August.
It will effectively reduce the cost of a £20,000 loan over five years by over £424.
This will be the first in a series of special offers on personal loans from Santander, with more deals to be announced in the coming weeks.
Nick Potter, head of personal loans at Santander, said:
"As the economic environment begins to improve people feel more confident about borrowing, and Santander is increasing its lending accordingly.
"Whether it's for a car, home improvements or the holiday of a lifetime, a personal loan can be a cost-effective way to borrow, especially with rates being so competitive right now."
